Jenkins appointed Barclays chief

Banbury Cake: Barclays has revealed that the Serious Fraud Office has launched an investigation into payments made between the bank and Qatar Barclays has revealed that the Serious Fraud Office has launched an investigation into payments made between the bank and Qatar

Under-fire banking giant Barclays has named its retail and business banking boss Antony Jenkins as chief executive.

The appointment of Mr Jenkins comes a day after Barclays said the Serious Fraud Office (SFO) was investigating payments made between Barclays and its Middle East investors Qatar Holding - part of sovereign wealth fund Qatar Investment Authority.

Mr Jenkins takes on the post with immediate effect and succeeds former chief executive Bob Diamond, who quit in the wake of its interbank rate rigging scandal.

Barclays shares opened 1% lower on Thursday.

Mr Jenkins, who has been on the executive committee since 2009, will be paid £1.1 million a year in the role, with a package including potential annual bonuses of up to 250% of salary and long term incentive shares worth a possible £4.4 million each year.

He will be joined at the top in November by incoming chairman Sir David Walker, who takes over from Marcus Agius, who announced his intention to resign after the Libor rigging furore. Their appointments end a period of uncertainty over the group's leadership at a crucial time for the bank.

Mr Agius, chairman of Barclays, said: "Antony's appointment has the support of all the directors; we are confident that, supported by the board and the executive committee, he will work quickly to take the group forward."

He added: "I am pleased that the new leadership of the bank is settled."

Mr Jenkins said he would seek to repair the bank's tarnished image as a top priority.aid: "We have made serious mistakes in recent years and clearly failed to keep pace with ostakeholders' expectations.

"We have an obligation to all of those stakeholders - customers, clients, shareholders, colleagues and broader society - and a unique opportunity to restore Barclays' reputation by making it the "go to" bank in all of our chosen markets. hat journey will take time, we have much to do, and I look forward to getting started immediately."

click2find

About cookies

We want you to enjoy your visit to our website. That's why we use cookies to enhance your experience. By staying on our website you agree to our use of cookies. Find out more about the cookies we use.

I agree